Norden Group LLC Has $2.07 Million Stake in The Home Depot, Inc. (NYSE:HD)

Norden Group LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,963 shares of the home improvement retailer’s stock after selling 821 shares during the period. Home Depot comprises 0.3% of Norden Group LLC’s holdings, making the stock its 29th largest holding. Norden Group LLC’s holdings in Home Depot were worth $2,066,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Optas LLC boosted its holdings in shares of Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after purchasing an additional 29 shares during the period. Harvest Investment Advisors LLC lifted its holdings in Home Depot by 0.8% in the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after buying an additional 30 shares during the period. Armstrong Henry H Associates Inc. grew its position in shares of Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares during the last quarter. CGC Financial Services LLC increased its stake in shares of Home Depot by 4.3% during the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after buying an additional 30 shares during the period. Finally, Independent Investors Inc. raised its holdings in shares of Home Depot by 0.5% during the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock valued at $2,097,000 after acquiring an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their price objective on Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Finally, Guggenheim restated a “buy” rating and set a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $375.96.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Performance

Shares of Home Depot stock traded down $2.66 during trading on Tuesday, hitting $334.14. 1,224,511 shares of the company’s stock traded hands, compared to its average volume of 3,318,801. The business has a 50-day simple moving average of $364.25 and a 200-day simple moving average of $341.58. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The stock has a market capitalization of $331.14 billion, a P/E ratio of 22.20, a PEG ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.